Spearhead Capital Advisors LLC boosted its holdings in Leggett & Platt, Inc. (NYSE:LEG) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 110,256 shares of the company’s stock after buying an additional 2,662 shares during the quarter. Leggett & Platt accounts for about 1.4% of Spearhead Capital Advisors LLC’s investment portfolio, making the stock its 16th largest position. Spearhead Capital Advisors LLC owned approximately 0.08% of Leggett & Platt worth $5,604,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Quest Capital Management Inc. ADV acquired a new position in Leggett & Platt in the third quarter worth approximately $27,000. Penserra Capital Management LLC grew its position in Leggett & Platt by 25.0% in the third quarter. Penserra Capital Management LLC now owns 1,280 shares of the company’s stock worth $52,000 after buying an additional 256 shares during the last quarter. Aigen Investment Management LP acquired a new position in Leggett & Platt in the fourth quarter worth approximately $101,000. Duncker Streett & Co. Inc. acquired a new position in Leggett & Platt in the fourth quarter worth approximately $127,000. Finally, Thor Advisors LLC acquired a new position in Leggett & Platt in the third quarter worth approximately $120,000. Hedge funds and other institutional investors own 77.21% of the company’s stock.
NYSE LEG traded up $0.14 on Friday, hitting $45.60. 478,689 shares of the stock were exchanged, compared to its average volume of 1,224,125. Leggett & Platt, Inc. has a 52-week low of $35.35 and a 52-week high of $55.42. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.66 and a quick ratio of 0.97. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.38 and a beta of 1.12. The company’s 50-day moving average price is $49.31 and its two-hundred day moving average price is $45.87.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Leggett & Platt had a net margin of 7.02% and a return on equity of 27.79%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted $0.62 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Leggett & Platt, Inc. will post 2.5 EPS for the current fiscal year.
In related news, SVP Russell J. Iorio sold 6,962 shares of Leggett & Platt stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $53.09, for a total value of $369,612.58. Following the completion of the sale, the senior vice president now owns 61,446 shares of the company’s stock, valued at approximately $3,262,168.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 6,849 shares of Leggett & Platt stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $52.58, for a total transaction of $360,120.42. Following the completion of the sale, the director now directly owns 39,166 shares of the company’s stock, valued at approximately $2,059,348.28. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.
LEG has been the topic of several recent research reports. SunTrust Banks lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. CJS Securities cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating and set a $54.00 price objective on the stock. in a research report on Tuesday, December 10th. Stifel Nicolaus cut shares of Leggett & Platt from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $52.00 to $55.00 in a research report on Tuesday, November 19th. Finally, Goldman Sachs Group began coverage on shares of Leggett & Platt in a research report on Friday, December 6th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Leggett & Platt has a consensus rating of “Hold” and a consensus price target of $54.50.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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